Management Review
The results continue at a satisfactory level with a net revenue in the first half of 2015 of DKK 381.7 million (DKK 406.2 million 2014) and an EBITDA of DKK 135.2 million (DKK 175.2 million 2014). The difference compared to 2014 is due to period deferments, and expectations for the full year are unchanged. Depreciations and financial costs were higher in the first three quarters of 2015 than in 2014. Profit Before Tax for 2015 was DKK 19.0 million (DKK 69.6 million 2014). For the full year of 2015, GlobalConnect expects at Group level to see a rise in revenue and EBITDA compared to 2014 and a Profit Before Tax above 2014.
GlobalConnect is focusing on securing and developing its current market position through controlled growth, based on an increased focus on processes and reporting. During the first three quarters of 2015, GlobalConnect has invested in further quality improvement of the fiber network and active equipment, and we continue our efforts to increase the range of products and services in order to improve customer satisfaction even further. During the period, GlobalConnect has continued the investments in fine meshing of the fiber and transmission network and at the same time improved the processes to enhance delivery times and quality of services.
On July 1st, 2015 GlobalConnect acquired the company T26 Technology A/S, a successful Danish outsourcing partner. The acquisition strengthens our position in the Danish market for it-outsourcing and cloud services. The integration between the two companies is well in progress and is running according to the plan made between the two companies. T26 has become the center of excellence for cloud services within the GlobalConnect Group. The market has received the acquisition very well, and GlobalConnect is looking forward to the full year effect in 2016 hereof.
Results for 2015 will be published on March 2nd, 2016.
Yours faithfully,
GlobalConnect A/S
Christian Holm Christensen
CEO
HUG#1966680
